Each segment engages in business activities which generate revenues and incur expenses. Based upon the information provided to the Company’s chief operating decision maker (“CODM”) to make decisions on resource allocation and operating performance evaluation, the Company has determined that it has three reportable segments.

The Company organizes its business segments along reporting lines and has three operating segments, consisting of the North Asia region, the Thailand region and the Rest of the World (“ROW”) region. The Company considers the economic characteristics similarity in determining the reportable segments.

As the three operating segments exceed the quantitative thresholds, they are also reportable segments. The accounting policies for segment information, including transactions entered between segments are generally the same as those described in the summary of significant accounting policies.

During 2018, CODM changed the measures of profitability by operating segments, replacing gross profit and gross profit margin with operating profit (loss) and operating profit (loss) margin. This change reflects a better explanation of the elements of performance. This change has been applied to comparative figures for 2017 presented in this document.

Inter-segment revenues are eliminated upon consolidation and reflected in the “adjustments and eliminations” column. All other adjustments and eliminations are part of detailed reconciliations presented further below.

Year ended December 31, 2019	North Asia			Thailand			ROW			Total segments			Corporate expense adjustments and eliminations			Consolidated
	US$’000			US$’000			US$’000			US$’000			US$’000			US$’000
Revenues
External customers		76,575			172,379			89,206			338,160			—			338,160
Inter-segment		—			6			—			6			(6	)		—
Segment operating profit/(loss)		1,237			3,042			(1,659	)		2,620			(2,884	)		(264	)
Depreciation and amortization		(811	)		(2,842	)		(1,613	)		(5,266	)		(58	)		(5,324	)
Depreciation from right of use assets		(44	)		—			(441	)		(485	)		(22	)		(507	)
Impairment of property, plant and equipment		(549	)		3			—			(546	)		—			(546	)
Interest income		57			403			45			505			1			506
Interest expense		(239	)		(481	)		(102	)		(822	)		(23	)		(845	)
Income tax (expense)/benefit		(561	)		(1,235	)		105			(1,691	)		(366	)		(2,057	)

Other disclosures
Capital expenditure		552			4,590			242			5,384			78			5,462

Year ended December 31, 2018	North Asia			Thailand			ROW			Total segments			Corporate expense adjustments and eliminations			Consolidated
	US$’000			US$’000			US$’000			US$’000			US$’000			US$’000
Revenues
External customers		103,647			213,424			108,869			425,940			—			425,940
Inter-segment		4,076			392			6,308			10,776			(10,776	)		—
Segment operating profit/(loss)		5,234			9,539			(2,306	)		12,467			(3,143	)		9,324
Depreciation and amortization		(829	)		(2,836	)		(1,333	)		(4,998	)		(20	)		(5,018	)
Impairment of property, plant and equipment		—			(11	)		—			(11	)		—			(11	)
Interest income		117			611			42			770			(288	)		482
Interest expense		(397	)		(748	)		(34	)		(1,179	)		(21	)		(1,200	)
Income tax (expense)/benefit		(1,212	)		(2,152	)		384			(2,980	)		(906	)		(3,886	)

Other disclosures
Capital expenditure		1,188			2,859			451			4,498			10			4,508

Year ended December 31, 2017	North Asia			Thailand			ROW			Total segments			Corporate expense adjustments and eliminations			Consolidated
	US$’000			US$’000			US$’000			US$’000			US$’000			US$’000
Revenues
External customers		101,533			206,485			117,197			425,215		—				425,215
Inter-segment		890			1,044		—				1,934			(1,934	)		—
Segment operating profit/(loss)		3,256			11,053			1,205			15,514			(3,074	)		12,440
Depreciation and amortization		(979	)		(2,760	)		(1,314	)		(5,053	)		(3	)		(5,056	)
Impairment of property, plant and equipment		(213	)		(10	)	—				(223	)	—				(223	)
Interest income		51			845			61			957			(81	)		876
Interest expense		(428	)		(553	)		(52	)		(1,033	)		67			(966	)
Income tax (expense)/benefit		(1,395	)		(2,727	)		(342	)		(4,464	)		(676	)		(5,140	)

Other disclosures
Capital expenditure		991			3,332			590			4,913			—			4,913

Corporate expenses, gain on disposal of investment, and share of gain (loss) of associates are not allocated to individual segments as the underlying instruments are managed on a group basis.

	For the year ended December 31,
	2019			2018			2017
	US$’000			US$’000			US$’000
Segment operating profit		2,620			12,467			15,514
Corporate expenses adjustments and eliminations		(2,884	)		(3,143	)		(3,074	)
		(264	)		9,324			12,440
Other operating income		385			805			5,084
Other operating expenses		(770	)		(1,445	)		(909	)
Operating profit		(649	)		8,684			16,615
Finance costs		(1,012	)		(1,378	)		(1,221	)
Finance income		506			482			876
Share of loss of associates		(3	)		(3	)		(3	)
Loss on liquidation of subsidiary		—			—			(261	)
Exchange gain		1,550			1,741			2,784
Other income		717			1,817			214
Other expense		(3	)		(11	)		(336	)
Profit before tax		1,106			11,332			18,668

									Corporate
									adjustments
	North Asia		Thailand		ROW		Total segments		and eliminations		Consolidated
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
As of December 31, 2019
Total assets		49,379		165,579		76,618		291,576		7,335		298,911
Total liabilities		14,212		26,706		21,834		62,752		7,724		70,476
As of December 31, 2018
Total assets		54,250		173,398		70,574		298,222		7,576		305,798
Total liabilities		20,169		42,887		14,015		77,071		6,911		83,982

	As of December 31,
	2019			2018
	US$’000			US$’000
Segment operating assets		291,576			298,222
Corporate and other assets		2,466			2,869
Investment in associates		935			864
Deferred tax assets		3,939			3,919
Inter-segment elimination		(5	)		(76	)
Total assets		298,911			305,798

5(d-1)The application of IFRS 16 increased the segment assets and liabilities as below:

									Corporate
									adjustments
	North Asia		Thailand		ROW		Total segments		and eliminations		Consolidated
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
As of December 31, 2019
Assets		—		—		2,506		2,506		192		2,698
Liabilities		—		—		2,552		2,552		205		2,757

The Company’s disaggregated revenues transitioned from reporting of Manufactured Products, Distributed Products and SDI segments in 2017 to reporting of Power, Enamel and Others product lines in 2018. The updated reporting of results best reflects the relevant information and granularity desired by all stakeholders to conduct decisions and operations. Reported results of Power, Enamel and Others product lines provide improved understanding and insight to the performance of the Company and its products and services.

Revenue from external customers is summarized as the following major categories:

Year ended December 31, 2019	North Asia		Thailand		ROW		Total segments		Corporate expense adjustments and eliminations		Consolidated
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Revenue from external customers
Power		—		49,493		78,686		128,179		—		128,179
Enamel		76,575		102,997		—		179,572		—		179,572
Others*		—		19,889		10,520		30,409		—		30,409
		76,575		172,379		89,206		338,160		—		338,160
Timing of revenue recognition
At a point in time		76,575		172,031		82,584		331,190		—		331,190
Over time		—		348		6,622		6,970		—		6,970
		76,575		172,379		89,206		338,160		—		338,160
* includes revenues from SDI service contracts, fabrication service contracts, and sale of other wires and cables products.

Year ended December 31, 2018	North Asia		Thailand		ROW		Total segments		Corporate expense adjustments and eliminations		Consolidated
	US$’000		US$’000		US$’000		US$’000		US$’000		US$’000
Revenue from external customers
Power		—		64,771		92,130		156,901		—		156,901
Enamel		103,647		114,247		—		217,894		—		217,894
Others*		—		34,406		16,739		51,145		—		51,145
		103,647		213,424		108,869		425,940		—		425,940
Timing of revenue recognition
At a point in time		103,647		213,212		92,133		408,992		—		408,992
Over time		—		212		16,736		16,948		—		16,948
		103,647		213,424		108,869		425,940		—		425,940
* includes revenues from SDI service contracts, fabrication service contracts, and sale of other wires and cables products.

The Company recognizes no revenues from performance obligations satisfied in previous years in 2019 and 2018.

Revenue from external customers is attributed to individual countries based on the customer’s country of domicile and is summarized as follows:

	For the year ended December 31,
	2019		2018		2017
	US$’000		US$’000		US$’000
Revenues from external customers
Thailand		116,160		154,207		158,565
Singapore		46,218		63,781		76,453
Australia		34,447		37,594		34,901
China		81,813		111,917		108,561
India		36,121		45,008		31,291
Southeast Asia		23,390		13,339		15,394
Northeast Asia		11		94		50
		338,160		425,940		425,215

Countries in the Southeast Asia region include Cambodia, Vietnam, Indonesia, Brunei, Laos, Malaysia and Myanmar; countries in the Northeast Asia region include Japan and South Korea.

Revenue from one customer in the Thailand region amounted to $23,118 represented 6.84% of 2019 consolidated revenue. Revenue from another customer in the ROW region amounted to $37,197 in 2018 and $36,518 in 2017 represented 8.73% and 8.59% of 2018 and 2017 consolidated revenue, respectively.

The total non-current assets other than financial instruments and deferred tax assets broken down by the country of domicile are summarized as follow:

	As of December 31,
	2019		2018
	US$’000		US$’000
Non-current assets by country:
Thailand		32,723		28,407
Singapore		7,869		5,868
China		5,661		6,592
Australia		2,661		2,684
Other		290		54
Total non-current assets		49,204		43,605